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Canada raises the minimum wage to $ 15 an hour
20/12/2017 12:00 am [rtl] Toronto's total retail sales rose by 0.1 percent last September to $ 49.1 billion, while the Ontario Legislature passed a sweeping reform in labor and wages proposed by the liberal government led by Kathleen Wen, Minimum wage to $ 15 per hour. The rise was driven by higher retail sales of fuel for a second month in a row, and by 2.6 percent in September, although the amount of fuel sold fell by 2.5 percent. If price differences are removed, total retail sales in September will fall by 0.6 percent, making economists point to a slowdown in consumer spending after a strong start earlier this year. Experts had expected the economy to slow in the second half of the year after a strong performance in the first half, a performance that made the Bank of Canada (BoE) raise its key interest rate twice in the summer. Total value Retail sales rose in September in five of the 11 major sectors monitored by Canada's official statistical agency. These five sectors account for 52 percent of the total value of sales. Sales rose in five of the 10 provinces and by 0.5 percent in Ontario. Here, too, if fuel sales are excluded, the value of retail sales in the major provinces has declined in terms of population and size of the economy. In Quebec, the second largest province in terms of population and economy, sales fell by 0.5 percent. The Ontario Legislature has also approved a broad-based reform plan in the area of employment and salaries proposed by the liberal government that includes raising the minimum wage to $ 15 an hour. The size of the economy Under the approved amendments, the minimum wage in Canada's largest counties in terms of population and economy will rise from $ 11.60 an hour to $ 14 per hour on January 1, 2018 and then $ 15 per hour in 2019. If The reform plan has been widely supported among the population, according to opinion polls. It has been criticized by employers and corporate executives who have expressed fears that this strong and rapid rise in the minimum wage could lead to job cuts. Positive impact But the Ontario government and a number of economists argue that the rise will have a positive impact on the province's economy as the purchasing power of workers and employees will rise. The Ontario government recently announced a reduction in SME taxes to help it absorb the impact of raising the minimum wage, with Kathleen Wynn indicating that the move was not intended to fully absorb the impact of the increase. Separately, Canada's inflation rate fell to 1.4 percent for the 12-month period ending last October, according to Statistics Canada. The drop came after three consecutive months of rises, with the inflation rate at 1.6 percent for the 12-month period ending September this year [/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=149662 [/rtl] |
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